WhatsApp Is Testing Cryptocurrency Payments On Its Platform In The US

The cryptocurrency mania is slowly merging into the mainstream and the most recent example is the Facebook-owned WhatsApp. The messaging platform has launched a pilot project for limited users in the United States that allows sending and receiving payments in cryptocurrencies.

WhatsApp has launched the Cryptocurrency Pilot Program in collaboration with Meta’s digital wallet ‘Novi. A quick glance at Novi’s CEO’s official Twitter handle reveals that people in the US will be able to send and receive money using Novi on @WhatsApp.

WhatsApp Allows Sending & Receiving Crypto

Using the feature is very simple. Just like sending a ‘contact’ or ‘location’, the user needs to click on the paper clip button [for iOS] or the plus button [for android] to send a payment in cryptocurrency.

Are There Any Extra Charges?

The transaction will be carried out at no extra charge or commission from either WhatsApp or Novi. There are no limitations regrading how often payments via cryptocurrencies can be sent and the transactions are settled immediately.

The cryptocurrency pilot program ensures that the end-to-end encryption of WhatsApp does not get impacted. Cryptocurrencies have become wildly popular in the past few months and it would be safe to say that 2021 has been the year of de-centralized finance and cryptos.

Facebook [which also owns WhatsApp] has also rebranded itself as ‘Meta’ to highlight its vision of being a fully immersive, 3D version of the internet that spans not just Meta’s hardware such as the Quest, but devices made by others. 

The Crypto Mania

Many cryptocurrencies have seen sharp rise in prices this year. There are different sorts of investors in the crypto market, some are in it for quick gains, while others want to stick around for a long-term benefit.

Long term nvestors usually find refuge in blue-chip currencies and coins like Ethereum, Bitcoin, Binance Coin, and more while speculators are usually found investing in meme-coins such as Shiba Inu, Dogecoin, and more.

Recently, a Canadian healthcare company started accepting the Shiba Inu meme-coin as a mode of payment. After a flurry of requests from crypto enthusiasts, and particularly from the ‘ShibArmy’, the Canadian company decided to make this decision.

Do you think that WhatsApp’s trial with cryptocurrencies will be a success and prompt a greater acceptance of these digital currencies? Tell us your thoughts in the comments.

Shaheer is passionate about living a life seeking un-ending knowledge, philomath, as you may think of him. He's a student of Finance and a keen observer of Business and Indian-Political scenario who takes pleasure to pen down his views and opinions on the same. As his guiding mantra to life, ‘Come what may , life goes on’ helps.

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